Charlotte, North Carolina-based SPX Corporation (NYSE: SPW) announced that its thermal equipment and services business will supply components worth approximately $100 million to Iceland utility Orkuveita Reykjavikur (OR).
The SPX components are slated for OR’s five planned geothermal power plants to be built at the base of Hengill volcano in Iceland. Under the terms of the contract, SPX will supply a complete cold-end solution for the plants, which includes engineering, design, manufacturing, and installation of a steam condensing system utilizing multiple SPX heat exchangers.
"Our products will help create one of the most modern and efficient geothermal facilities in the world," said Drew Ladau, President of SPX Thermal Equipment and Services.
"Iceland is a world leader in geothermal power generation and we’re pleased to play a role in helping build their energy infrastructure."
The new geothermal power plants, which use hot steam from within the earth to produce electricity, are anticipated to begin operation in 2010-2011 and have a total output of 225 megawatts (MW).
About SPX
SPX is focused on providing solutions that support the expansion of global infrastructure, with particular emphasis on the growing worldwide demand for energy and power. Its innovative product portfolio, containing many environmentally friendly products, includes cooling systems for power plants throughout the world; custom engineered process equipment that assists a variety of flow processes including food and beverage manufacturing, oil and gas exploration, distribution and refinement and power generation; handheld diagnostic tools that aid in vehicle maintenance and repair; and power transformers that regulate voltage for electrical transmission and distribution by utility companies.
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